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Sensex, Nifty End Near Six-Month Low; Post Third Straight Weekly Loss

Sensex, Nifty End Near Six-Month Low; Post Third Straight Weekly Loss
An investor looks at a stock quote screen near the end of the trading day in a brokerage in Shanghai, China. (Photographer: Kevin Lee/Bloomberg News)
6 years ago
Sensex and Nifty end at their lowest level since September 2019 as banking stocks and weak global cues weigh on sentiment.

11.2 lakh shares of the company exchanged hands in a large trade on the National Stock Exchange as per Bloomberg data. Buyers and sellers in the trade were not immediately known.

The stock trades at Rs 1,271 per share, down 3 percent. It has traded with losses for 12 out of the last 14 trading sessions. It has lost 15 percent during this period.

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  • Buy Nifty for target of 11,300 and stop loss of 10,750
  • Buy Nifty Bank for target of 28,700 and stop loss of 27,300
  • Buy Bajaj Finance for target of Rs 4,700 and stop loss of Rs 4,050
  • Buy Maruti for target of Rs 6,900 and stop loss of Rs 6,150

The automaker currently trades 8.35 percent lower at Rs 115.25 per share, the lowest level since October 04, 2019.

The telecom player in an exchange filing has disclosed its AGR liabilities as per its self-assessment exercise.

“The self-assessment discloses the company's AGR liabilities to aggregate Rs 21,533 crore, including a principal amount of Rs 6,854 crore from FY07 to FY19 and interest up to February 2020,” the filing said.

Vodafone Idea has paid a sum of Rs 2,500 crore on February 17 and Rs 1,000 crore on February 20, 2020 towards the AGR dues.

The stock currently trades at Rs 3.35, down 6 percent on the National Stock Exchange.

37.8 lakh shares of ITC Ltd. exchanged hands in a single trade on the National Stock Exchange, as per Bloomberg data. Buyers and sellers were not immediately known. The stock currently trades at a 52-week low of Rs 182.10, down 3.2 percent.

Mutual Funds With Equity Exposure To Yes Bank

For Nifty Bank: March 12 Expiry

  • 27,000 Put: Premium jumps 503 percent to Rs 344.10. 75,540 shares are added in open interest
  • 27,500 Put: Premium jumps 429 percent to Rs 528.60. 1.6 lakh shares are added in open interest
  • 28,000 Call: Premium drops 65 percent to Rs 330.10. 3.1 lakh shares are added in open interest

The situation in the economy is that the companies which are bigger and better abilities to manage the situation are relatively safe, according to Deven Choksey of KRChoksey.

“The company which are smaller and in mid-tier segments are relatively more vulnerable to the management of the situation in the global and the Indian economy,” Choksey told BloombergQuint in an interaction.


“We are continuing to tell investors that it is not the time to play during volatility,” he added.

Haircut in respect of shares of Yes Bank Ltd. provided as collaterals shall be revised to 100 percent with effect from begin day of March 06, 2020.
NSE Statement

  • Buy 460 Put of Mahindra & Mahindra for target of Rs 20 and Stop Loss of Rs 8
  • Buy 70 Put of Ashok Leyland for target of Rs 5 and Stop Loss of Rs 2.5

UBS

  • Rating: Sell
  • Price Target: Rs 20
  • Expect government to act swiftly to avoid any systemic risks

Macquarie

  • Depositors unlikely to lose money
  • Merger with a PSU Bank the only likely option
  • Mere stake sale will not be of any help
  • Implied current net worth of bank is Zero
  • See sharp negative reaction on SBI, Yes Bank

JPMorgan

  • Rating: Underweight
  • Price target cut to Re 1

Credit Suisse

  • Delay in resolution to impact liquidity flows to other mid-sized private bank
  • Credit crunch likely to get further aggravated

Morgan Stanley

  • Rating: Underweight
  • Price target: Rs 25
  • Potential delays may impact resolution of stressed loans
  • Protection of depositor interest positive from systemic risk perspective

Get the complete list of the other stocks on the radar in today’s trading session HERE.

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